Refer to Figure 16.2. For the given Phillips curve, an increase in aggregate demand, ceteris paribus, could cause a
A. Movement from point B to point A.
B. Movement from point A to point B.
C. Rightward shift in the curve.
D. Leftward shift in the curve.
Answer: A
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The real business cycle model replicates the key business cycle regularities
A) both qualitatively and quantitatively. B) qualitatively but not quantitatively. C) quantitatively but not qualitatively. D) neither qualitatively nor quantitatively.
There are 30 firms in an industry. What happens to that industry's four-firm concentration when the third- and fourth-largest firms merge?
A. Nothing, because their shares are already included in the concentration calculation. B. It is impossible to know without more information. C. The industry's concentration ratio will fall. D. The industry's concentration ratio will increase.